It has been years in the making and not without controversy, but on Tuesday, the Wekiva Parkway financing plan got the green light, marking the first step in the plan’s approval.
In a 17-2 vote, the MetroPlan Orlando board approved the financing plan for the nearly $1.7 billion project which builds 25 miles of new toll expressway through Orange, Seminole and Lake Counties.
“Wekiva Parkway completes the last segment of Central Florida’s beltway and will have an immense impact on our region’s transportation system for the better,” said MetroPlan Orlando Chairman and Seminole County Commissioner Bob Dallari, in a statement. “The financing plan brings a significant fiscal impact to our region with only slight delays to our five-year plan. The Wekiva Parkway will fuel the economy and create jobs for years to come.”
The plan will now be reviewd by the Lake-Sumter Metropolitan Planning Organization and the Orlando-Orange County Expressway Authority.
In addition to the new toll expressway, the project also constructs several miles of non-toll road improvements, including construction of seven miles of 4-lane and 6-lane portions of SR 46; reconstruction of the US 441/SR 46 interchange in Mount Dora, and relocation of CR 46A to provide improved wildlife connectivity and local road system benefits.
If the project receives all necessary approvals, construction could begin by fall 2012 and conclude in 2021.
